Kenya Electricity Generating Company (KenGen), the country’s largest power producer has reported its performance for the six month period ended December 2018.
Key Highlights;
- Total revenue increased by 5% to Sh 18.1 Billion.
- Profit after tax dropped by 11.5% to Sh 4.1 Billion.
- Profit before tax fell by 7.4% to Sh 6.1 Billion.
- Steam revenue increased from Sh 2.47 Billion to Sh 3.15 Billion due to completion of new wellheads plants and improved power evacuation following completion of Olkaria-Suswa transmission line.
- Operating costs increased by 6% to Sh 4.6 Billion mainly due to costs associated with maintaining existing and new power plants.
- Steam costs increased from Sh 1.Billion to Sh 1.79 Billion.
- Value of the company’s assets was unchanged at Sh 377.8 Billion.
- No interim dividend recommended.
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